But they will gladly pay us back on Tuesday. They’ll borrow more to do it.
Lee’s Free Thinking
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Lee's Free Thinking
Transitioning to Europe
by Lee Adler • • 0 Comments
You may heve noticed a lack of posts since yesterday. Ijust arrived in Paris, beginning my annual European sojourn. I’ll be settling in to Bordeaux this evening, here in France, or mid afternoon in the US. Regular posting will resume after that. Follow the money. Find the profits!Liquidity is money. Regardless of where in the…
Federal Reserve QE New, Lee's Free Thinking
NY Department of Welfare Announces Increased Subsidies for Primary Dealers, Thank God!
by Lee Adler • • 0 Comments
The Department of Welfare and Mendicant Services at the New York Fed has released the schedule of repurchase agreement (repo) Primary Dealer welfare support operations for the monthly period from November 15, 2019 through December 12, 2019. Let us give thanks.
Federal Reserve QE New, Lee's Free Thinking
Today’s Fed QE, TOMO, and POMO AKA QE New
by Lee Adler • • 0 Comments
The Fed bought $15.7 billion in T-bills, notes, and bonds from dealers. That’s higher powered money because the Fed is actually cashing out the dealers. TOMO is just a loan to enable them to carry their fixed income inventories without having to liquidate at a loss.
And boy they took some losses last week.
Federal Reserve QE New, Lee's Free Thinking
US Treasury Defecates – Held In The Bowels of The Fed
by Lee Adler • • 0 Comments
The Federal budget deficit is blowing out. Federal tax revenues are growing slowly, and Federal outlays are exploding. The Fed is monetizing the debt. Here’s why this is like the Boeing 737 800 Max.
Federal Reserve QE New, Lee's Free Thinking
Today’s Fed POMO TOMO FOMC Alphabet Soup Unspin
by Lee Adler • • 0 Comments
If the Fed wants money rates to drop and stay down by another quarter point, it will need to imagineer even more money.
Federal Reserve QE New, Lee's Free Thinking
Fed POMO Today – $7.501B Bill Purchase 2019-10-29
by Lee Adler • • 0 Comments
The Fed keeps imagineering money into existence, right on schedule. But t’ain’t buying what it used ta.
Federal Reserve QE New, Lee's Free Thinking
Today’s Fed POMO is Small But TOMO Shows Dealers Have Explosive Diarrhea
by Lee Adler • • 0 Comments
Today’s Fed POMO was small, but TOMO went through the roof.
Federal Reserve QE New, Lee's Free Thinking
Federal Reserve Repo Man – No Rant Today, Just the Facts and Meyer Lansky
by Lee Adler • • 0 Comments
It’s the same old “rescue the dealers and bankers, enrich the hedgies, and screw the little guy,” all the time.
Federal Reserve QE New, Lee's Free Thinking
Fed Expands De Facto Standing Repo Facility
by Lee Adler • • 0 Comments
The Fed is expanding its de facto Standing Repo Facility.
Notice the words, “at least.”
Nothing to see here. Move along.
